Saxton Appraisals, Inc. Appraisal Reviews
As said in an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation plans," and that appraisers fulfilling reviews ought to "have the ability and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Saxton Appraisals, Inc. provides appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions about an appraisal, call Saxton Appraisals, Inc. today.
Appraisal reviews "should decide whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is obtained guarantees independence and quality," as stated by the Federal Reserve. In addition, they "should signify whether the appraisal or evaluation report matches the letter of engagement, which describes the outlook of the appraisal assignment." Last, The Federal Reserve says that "some banks augment routine reviews with post-funding assessments of appraisal quality for a number of their higher-liability or large-value affairs as a control to help in discovering valuation problems."
In addition to tailoring our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Saxton Appraisals, Inc., we're trained in all types of appraisal reviews, review practices and the requirements of review appraisers.
Saxton Appraisals, Inc. is aware of what the most common deficiencies are, particularly in our home market. We also understand what represents a quality appraisal. In the same regard, we are amply trained to recognize that the competitors in our market are qualified to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on Saxton Appraisals, Inc. to lawfully examine appraisal reports performed by others. And those others may be reviewing our work, too!
Here at Saxton Appraisals, Inc., you can count on our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and services offered.